KUALA LUMPUR: As expected, it was a quiet Budget 2010 for the property sector. Here are some highlights in Malaysia’s Budget 2010 tabled in Parliament by Prime Minister Datuk Seri Najib Razak on Oct 23:

KUALA LUMPUR: The services sector, which accounts for more than half of the country's economy, is expected to grow 3.6%  in 2010 from 2.1% in 2009, underpinned by a favourable performance in several sectors.

KUALA LUMPUR: The government has revised downwards its forecast for the economy this year and expects gross domestic product (GDP) to contract at a smaller pace of 3% instead of shrinking by up to 4% under its earlier forecast.

KUALA LUMPUR: Rent prices in the Brooklyn apartment market are showing signs of stability following swings in rents and vacancies underpinned by job losses, according to a report.

However, it is unlikely that the market has hit bottom yet, said real estate investment services firm Marcus & Millichap in their 4Q apartment research report.

TEL AVIV: Israel, the best-performing residential property market this year, may lose its standing after becoming one of the first countries to raise interest rates since the global recession began.

KUALA LUMPUR: Land & General Bhd (L&G), the developer of the Bandar Sri Damansara township here, plans to acquire more land in the Klang Valley to undertake more commercial and residential projects.Managing director Low Gay Teck said on Wednesday, Oct 21 the land purchases would be financed via the company's internal funds and bank loans."It's a mix...

KUALA LUMPUR: The commercial centre of One Ampang Avenue which has long been known as “Little Korea” has attracted a different crowd of expatriates of late: Iranians.

LONDON: Home sellers here raised asking prices to a record high this month and led gains across the UK as the shortage of properties for sale intensified, Rightmove plc said.

The average cost of a home in the capital rose 6.5%, the most since records began in 2002, to £416,157 (RM2.29 million), the owner of the UK’s biggest residential property website said on Oct 19 in a statement.

GEORGE TOWN: The Penang Turf Club (PTC) is planning to embark on a RM30 million development project to build 25 bungalow units on the fringes of the PTC, which would be rented out when completed to generate income for the club.

KUALA LUMPUR: UEM Land Holdings Bhd (ULHB), the master developer of Nusajaya in Johor has yet to sign any agreement to develop a theme park in the area.

“As at to date, UEM Land Bhd, a wholly-owned subsidiary of ULHB, has not signed or entered into any agreement or formal understanding with any party to develop any theme park,” it said in a filing to Bursa Malaysia on Oct 19.